A new report from the Financial Times (FT) says crypto asset and blockchain infrastructure outfit Tron has its sights set on going public in the U.S. According to FT, two individuals “briefed on the matter” spilled the beans about Tron’s push to become a publicly traded company.
Report: Justin Sun’s Tron Aims for Nasdaq Listing in High-Stakes Merger Deal
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This article has been updated (third paragraph) to reflect recent commentary from Eric Trump.
Tron Targets Public Debut as Circle and Gemini Stir Crypto IPO Buzz
The FT editorial highlights that two sources revealed Tron is aiming to go public through a reverse merger. The deal involves merging with Nasdaq-listed SRM Entertainment in an arrangement steered by Dominari Securities. Dominari, the dealmaker, is tied to Dominari Holdings Inc., a boutique investment firm headquartered in Trump Tower.
According to FT’s sources, the transaction will include a tron (TRX) acquisition modeled after Michael Saylor’s Strategy playbook. One insider added that Eric Trump is expected to take on a role within the public company, which will be named “Tron Inc.” TRX currently ranks as the eighth-largest crypto asset by market cap and has climbed 142% against the U.S. dollar over the past year.
Although the insider claimed Eric Trump would play a role, he publicly denied any such involvement on Monday via the social media platform X. “I’m the biggest fan of Tron and love [Justin Sun] – he is a great friend and an icon in the crypto space. That said the below is inaccurate – I don’t have public involvement in this company,” he stressed sharing an image of reports that said he was involved.
The sources familiar with the matter further told FT that Tron plans to “inject” up to $210 million into the newly public entity. This development lands just as stablecoin issuer Circle made its debut on the New York Stock Exchange, where CRCL shares have drawn plenty of interest. Meanwhile, Gemini, the crypto exchange based in New York, appears to be preparing for its own public entry.
Justin Sun launched Tron in 2017 with the bold mission of creating a decentralized internet, powered by its own digital token ( TRX) and built to fuel smart contracts and digital content sharing. It didn’t take long for Tron to scale up—by 2018, it had snapped up Bittorrent and folded it into its growing ecosystem, widening both its scope and influence.
